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Showing posts with label Relief From H.B. Loan Interest U/s 24(B). Show all posts
Showing posts with label Relief From H.B. Loan Interest U/s 24(B). Show all posts

Monday 11 November 2019


The Income Tax the department has revised Form-16 by adding various details, including income from house property and remuneration received from other employers, thereby making it more comprehensive to help check tax avoidance.

Sunday 10 November 2019


Section 80D of Income Tax allows you to claim income tax benefits. Let’s try to check out detail about Section 80D and Health Insurance.
Health-related problems or medical emergencies can arise anytime. If you are not prepared to withstand a health emergency, you will need to spend money from your pocket. Recently my friend was diagnosed with skin cancer. He was not covered with any health insurance. He spent hefty 2.3 Lakh from his pocket. His entire saving was spent on the treatment.
The learning from this example is one should always buy an adequate health insurance policy, which can help them in a health emergency. Our Government also encourages people to buy sufficient medical insurance policy. You can get tax benefits under Section 80 D for the premium paid for the health insurance policy.

Saturday 9 November 2019


1.               Rebate under Section 87A changed from Rs 2,500 to Rs 12,500 or 100% of income tax (whichever is lower) for individuals with income below Rs 5 Lakhs (from Rs 3.5 Lakhs)
2.               Standard Deduction raised for Salaried & Pensioners from Rs 40,000 to Rs 50,000
3.               Increased Tax for the super-rich: Surcharge increased to 25% for income between 2 to 5 crore & to 37% for income beyond Rs 5 crores
4.               Additional Tax Deduction of Rs 1.5 lakhs u/s 80EEA on home loans on purchase of the affordable home
5.               Additional Tax Deduction of Rs 1.5 lakhs u/s 80EEB on Auto loans on purchase of Electric vehicles
6.               No Tax on Notional Rental Income from Second House
7.    TDS threshold increased from Rs 10,000 to Rs 40,000 on Bank Interest Income

Friday 8 November 2019


1.               Rebate under Section 87A changed from Rs 2,500 to Rs 12,500 or 100% of income tax (whichever is lower) for individuals with income below Rs 5 Lakhs (from Rs 3.5 Lakhs)
2.               Standard Deduction raised for Salaried & Pensioners from Rs 40,000 to Rs 50,000